CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

How Can I Avoid a Second Bankruptcy?

BankruptcyBankruptcy is viewed as a solution to serious money challenges. It offers a brand new start and helps you get back on your feet after a tough time.

But what if bankruptcy doesn’t solve all of your problems?

What if you’ve filed and after several months or years you find yourself in another serious financial situation?

Should you file again? Is a second bankruptcy even an option? Is it too late to amend your current bankruptcy plan instead of refiling?

Will bankruptcy help protect a vehicle from repossession?

Before you decide what to do there are a few things you need to consider.

How Long Has It Been Since You First File for Bankruptcy?

This is important for a couple of reasons.

First, there are legal limits on how soon you can refile.

If you’ve recently completed a Chapter 13 repayment plan or your debts were just discharged in the last few weeks or months in Chapter 7, you’ll need to wait to file.

To learn more about how long you need to wait to file based on your current situation, check out this information.

Another reason to consider how long ago you filed is that maybe there’s no need to file again.

If you’re in the midst of a Chapter 13 bankruptcy you might have the option of amending the plan to include your current financial concerns. In some cases, if new debts arise (this is often the case when you’re dealing with medical debt), adding them to a Chapter 13 plan might trigger a qualification for Chapter 7 and many of your debts will end up being discharged.

In this case, additional financial woes mid-bankruptcy can be a positive occurrence.

Avoiding a Second Bankruptcy

For many people, the need for a second bankruptcy comes several years or longer after their first filing. If this sounds like your situation and you suspect your financial challenges might be headed toward a second bankruptcy, you should do what you can to avoid filing.

Start by contacting your creditors. Many are willing to work with you to help you avoid bankruptcy because they know they stand to gain more by offering flexibility.

If you’re unable to work out a payment plan or the plan isn’t enough you still have options. Sometimes resolving a financial issue is as simple as getting a refresher in what you learned during your first pre-bankruptcy counseling course and applying that information to your current situation.

One piece of financial advice is true whether you’ve filed before or not: never ignore creditors and credit problems. Hoping the problem will go away makes things worse. You are better off speaking to creditors and trying to come up with a resolution or taking more drastic action by filing, even if it’s your second time.

If you are concerned you’re headed toward a second bankruptcy or you want to do everything you can after your first bankruptcy to avoid the risk of a second filing, we can help. For more information on how to best manage your financial situation, contact the Law Office of Robert M. Geller at 813.254.5696.

Archive

Tampa Bankruptcy Law Blog

I’m Unemployed. Can I Still File for Bankruptcy?

Unemployed Bankruptcy Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because of...
Read More

How Will Filing for Bankruptcy Affect My Credit?

Will Bankruptcy Affect My Credit? Not paying your bills affects your credit negatively. And yet problems with credit are one...
Read More

Behind or In Default on Your Student Loan? Here’s What You Should Know

Student Loan Default If you’ve fallen behind on student loan payments or your student loans are in default, you aren’t...
Read More

Will Bankrutcy Affect My Job? Learn How Filing Affects You in the Workplace

Will Bankruptcy Affect My Job? Filing for bankruptcy raises many considerations. One of the most important is whether or not...
Read More

Can Bankruptcy Help Me If I’m Behind on Child Support?

Bankruptcy and Child Support Bankruptcy can help you with a lot of things. It can help you stop calls from...
Read More

Can You File for Bankruptcy When You’re Unemployed?

Bankruptcy and Unemployment Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because...
Read More

Bankruptcy and Eviction History

Eviction With the rate of evictions on the rise in recent months and the expectations that eviction numbers will grow,...
Read More

What to Expect Once You’ve Decided to File Bankruptcy from Home

File Bankruptcy from Home There are a few things that happen when you file bankruptcy from home. An automatic stay...
Read More

Will Filing for Bankruptcy Affect My Job Search? What You Need to Know about Unemployment and Bankruptcy

Unemployment and Bankruptcy Searching for a job when you are faced with a dire financial situation is difficult. If you’ve...
Read More

Will I Need to Go to Court If I File for Bankruptcy?

File for Bankruptcy from Home One of the most intimidating aspects of filing for bankruptcy is meeting in person with...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo comodo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions